Choppy trading of CPO likely


  • Business Premium
  • Monday, 13 Jan 2003

MALAYSIA Derivatives Exchange (MDEX) crude palm oil futures prices fell in an early round of selling on Monday, but the move was short-lived as strong technical buying emerged and lifted the market off sharply from its intra-week lows and finally closed the week with minor gains.  

Despite the lower exports reports for the first ten days of January from both cargo surveyors Intertek Testing Services (ITS) and Societe Generale de Surveillance (SGS), the market managed to retain its buoyancy, reflecting the generally bullish sentiment of traders who would be concentrating on the China factor in the immediate term.  

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